Discussions about digital transformation focus on the oft-featured shiny objects in technology:
- Big data
- Online business process management
- Real-time internal and external collaboration
- Application integration and data exchange
- Artificial Intelligence and process automation
Though these services and technology ecosystem elements all provide significant value to the businesses that deploy them, Digital Document Transformation (DDX) provides a foundation of context on which many of these services rely. Instead of digital reproductions of paper, DDX infuses business documents with the power of engagement, interactivity and automation. Let's explore these five commonly referenced digital transformation functions, and how the content within documents provides context and deeper insights.
1. Analytics and Business Intelligence
There is a lot of excitement about big data - real time analytics, data visualization, executive dashboards and business performance insights. It's great for leadership teams to have visibility to KPIs and reliable, decision-worthy data. Big data shows the high-level strategic moves that executives need to make. For those in the organizational chart—information workers, sales professionals, legal departments and contracting officers—structured data is only the beginning. Repositories of contracts, proposals and business forms propels business forward by:
- Gathering evidence of consent to agreement through eSignatures
- Demonstrating the negotiation of terms through redlining and version control
- Providing frameworks around key data points to expedite information capture through manual or automated data input
Business intelligence reporting is like taking blood pressure readings of your company. Documents are the lifeblood of your business, moving throughout your business and keeping every part of it fueled with what it needs to move forward.
2. Business Process Management and Workflow
If only your business had a native circulatory system as effective as the human body to move documents where they need to be, when they need to be there, and service their purpose so effectively. Data and process are inseparable, and the ability to track processes from end to end is vital. Just as blood clots are unhealthy to living organisms, business process bottlenecks cause business suffering. DDX empowers administrators to pinpoint inefficiencies and act on them quickly, whether it be to reassign approvals or delegate document processing based on expertise and tenure. The more accurately a digital document workflow mirrors how business works in the real world, the better off your business will be.
3. Collaborating with Colleagues, Customers, Partners and Prospects
Businesses that have implemented team messaging applications have reduced email volumes, enhanced team collaboration and enabled many employees to work as effectively remotely as they do in the office. Imagine how enabling real-time collaboration within your proposals could accelerate your deals through the pipeline. Digital proposals don't just sit in email inboxes or leave sales representatives guessing as to whether a proposal has been reviewed. They notify sales when the document is being reviewed, who is reviewing it, and what they are most engaged with. Digital document transformation takes static, two-dimensional files and enriches them to move business forward.
4. Application Integration and Data Exchange
If you run your business on applications like Salesforce.com, Microsoft OneDrive, Google Drive or Dynamics, compatible solutions which protect your existing technology investment is ideal. Modern technology is often referred to as ecosystems or stacks, and API-integrated SaaS applications. DDX speeds growth, eliminates bottlenecks and silos through standards-based APIs. It doesn't isolate core applications which support your business growth.
5. AI and Process Automation
Artificial intelligence has an insatiable appetite for structured data and unstructured content like documents and web content. AI can analyze contracts for key attributes like expiry date, or potentially unacceptable terms. It can automate tedious, high volume manual tasks like creating graphs, spreadsheets or presentations by repurposing and representing content from your repository. If analytics are a body's vital signs, and documents are the blood coursing through your company's "veins," AI represents a double espresso shot, a robot butler or the kind of superpowers you won't ever see in the Marvel or DC cinematic universes. You can get them from Conga, though. Contact us to find out how.